Question

Long answer why should the banks and cooperative societies provide more loan facilities to the rural households in india? give five reasons​

Answer 1

Answer:

➨ It is necessary for the banks and cooperative society to increase their lending facilities in rural areas because the money lender who lend money are charging a large amount of interest on the loan and it was very difficult for the rural people to pay the interest

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Answer 2

Answer:

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• Providing loans with reasonable interest rate, generating greater awareness among people about formal sources so as to reduce their dependence on informal sector. It will also prevent people from getting exploited through borrowings from informal sources. To serve as building blocks for rural households.